Through our partnership with United Way, LAEDA’s Individual Development Account (IDA) program offers small business owners the opportunity to put aside savings for their business. Additionally, the IDA program is a Savings Match program. This means that for every $1 the owner saves, United Way contributes, or “matches” this with an additional $2. IDA program participants can save up to $1500 to which United Way adds $3000. This contribution is a grant; there is no interest nor any expectation to pay it back. At the end of one’s saving period, the business owner has access to $4500 to invest in one’s business. This video is LAEDA’s interview with our first IDA program graduate, Mr. Rashaan Hornsby, founder and CEO of Health Nutz, a new enterprise providing a healthy snacking alternative to Camden residents on the go.
Find the link here
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